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Long Term Consequences of Natural Resource Booms for Human Capital Accumulation

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Author Info

  • Emery, Herb
  • Ferrer, Ana
  • Green, David

Abstract

Tight labour markets driven by resource booms could increase the opportunity cost of schooling and crowd out human capital formation. For oil producing economies like the Province of Alberta, the OPEC oil shocks of 1973 to 1981 may have had an adverse long term effect on the productivity of the labor force if the oil boom resulted in workers reducing their ultimate investment in human capital rather than merely altering the timing of schooling. We analyze the effect of this decade long oil-boom on the long-term human capital investments and productivity for Alberta birth cohorts that were of normal schooling ages before, during and after the oil boom. Our findings suggest that resource booms may change the timing of schooling but they do not reduce the total accumulation of human capital.

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File URL: http://www.clsrn.econ.ubc.ca/workingpapers/CLSRN%20Working%20Paper%20no.%2074%20-%20Emery,%20Ferrer,%20Green.pdf
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Bibliographic Info

Paper provided by Vancouver School of Economics in its series CLSSRN working papers with number clsrn_admin-2011-5.

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Length: 31 pages
Date of creation: 22 Feb 2011
Date of revision: 22 Feb 2011
Handle: RePEc:ubc:clssrn:clsrn_admin-2011-5

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Web page: http://www.clsrn.econ.ubc.ca/

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Keywords: Resource booms; long term human capital accumulation; OPEC oil crisis;

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References

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  1. J.C. Herbert Emery & Ronald D. Kneebone, 2008. "Socialists, Populists, Resources, and the Divergent Development of Alberta and Saskatchewan," Canadian Public Policy, University of Toronto Press, vol. 34(4), pages 419-440, December.
  2. Gylfason, Thorvaldur, 2000. "Natural Resources, Education, and Economic Development," CEPR Discussion Papers 2594, C.E.P.R. Discussion Papers.
  3. Claudio Bravo-Ortega & Jose De Gregorio, . "The Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth," Working Papers Central Bank of Chile 139, Central Bank of Chile.
  4. Xin Meng & Nancy Qian, 2009. "The Long Term Consequences of Famine on Survivors: Evidence from a Unique Natural Experiment using China's Great Famine," NBER Working Papers 14917, National Bureau of Economic Research, Inc.
  5. Beaudry, Paul & DiNardo, John, 1991. "The Effect of Implicit Contracts on the Movement of Wages over the Business Cycle: Evidence from Micro Data," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 665-88, August.
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Cited by:
  1. Howie, Peter & Atakhanova, Zauresh, 2014. "Resource boom and inequality: Kazakhstan as a case study," Resources Policy, Elsevier, vol. 39(C), pages 71-79.
  2. Diana Alessandrini, 2014. "On the Cyclicality of Schooling Decisions: Evidence from Canadian Data," Working Paper Series 16_14, The Rimini Centre for Economic Analysis.

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